Porter's 1979 model analyzes industry competitive forces. Model helps identify industry's competitive landscape and potential profitability. Model challenges "perfectly competitive" business models
Chair holds most power on board of directors and provides leadership to executives. Position requires majority vote from board of directors. Average compensation from outside company is $185,000
Risk mitigation minimizes exposure and reduces likelihood of events occurring. Project planning helps identify risks early in timeline. Project execution and risk management phases are vital for implementation
Business case justifies project initiation and resource consumption. Projects rarely start without a business case. Captures both quantifiable and non-quantifiable project characteristics
Futurists specialize in systematic future predictions and possibilities. Term first used in 1842 for Christian eschatological tendencies. Modern futurology coined by German Professor Flechtheim in mid-1940s. First professional futurist consulting institutions emerged in 1940s
Action plan outlines specific steps to achieve goals systematically. Useful for strategic planning and reaching any specific goals. Should be created in task management software for tracking